SBI Health Insurance

SBI General Insurance Company Limited started functioning in the year 2010 when it was a joint venture between State Bank of India and Insurance Australia Group (IAG). After the stake sale of IAG in the year 2020, the general insurance company is now a joint venture between SBI, Napean opportunities LLP, Honey Wheat investment limited, PI Opportunities Fund-1, and Axis New Opportunities AIF-I. The insurer offers a wide range of general insurance products in commercial space viz., health, home, travel, motor, and personal accident.

Health insurance is one of the most promising products that the insurer deals in. SBI Health Insurance plans are designed in a way that they cover individuals and families against several healthcare expenses in the event of illness, sickness, disease, or accident. SBI Health Insurance plans are affordable and are accessible to all. The insurer has a vision of becoming India’s most trusted general insurer and strives to achieve the mission of providing simple and innovative general insurance solutions, be responsive to customers' requirements, and build a sustainable business for the future.

Key Features of SBI General Insurance

Listed below are some features of SBI General Insurance that make the insurer stand out in the market:

• The insurer offers coverage for a wide range of sum insured options starting at Rs. 50,000.
• The premium paid for these health insurance policies is eligible for tax deduction under Section 80D of the Income Tax Act, 1961.
• Easy process to renew health insurance plans.
• Free health check-ups are offered in most health insurance plans offered by the insurance company.
• Cashless treatment in more than 6,000 network hospitals.
• Add-on covers are available under several health insurance plans for enhanced coverage.
• The insurance company offers a wide variety of health insurance policies that cater to different requirements of individuals, families, senior citizens, children, and parents.
• Family health insurance plans offered by SBI General Insurance offer coverage for the entire family under a single sum insured.

Health insurance premium is the amount that you are required to pay to the insurance company or a broker like InsuranceDekho in order to avail benefits under the health insurance plan. To avail of benefits under SBI Health Insurance plans, you are required to health insurance premium in Indian currency only. You can pay the premium after every 1 year, 2 years, or 3 years, depending on the policy term opted for.
Health insurance premiums differ from plan to plan offered by SBI Health Insurance. Listed below are the factors that may increase or decrease the health insurance premium you will be required to pay for any SBI Health Insurance plan:

• Age: Age is an important factor that affects the health insurance premium that you will be required to pay for a SBI Health Insurance plan. Young people have fewer medical complications in comparison to elderly people. So, the younger you are, the fewer the chances of you making health insurance claims are and hence, health insurance plans will be more affordable for you. Therefore, it is recommended to purchase a health insurance plan as early as possible in life.
• Smoking Habits: People who smoke regularly are at higher health risks than people who do not. And you will be more likely to make a claim under your health insurance plan because of several medical conditions resulting due to smoking. This is why, you will be required to pay a higher premium for SBI Health insurance plan if you are a smoker and vice versa.
• Sum Insured: Sum insured is the maximum value that an insurer pays in case you get hospitalised during a policy term. Higher the sum insured you chose, higher your coverage will be and hence higher the health insurance premium you will be required to pay for your SBI Health Insurance plan. But as higher sum insured means higher coverage, you should not compromise with it in order to reduce your health insurance premium.
• Pre-Existing Diseases: You will be required to pay a higher premium for SBI Health Insurance plan if you are suffering from a disease(s) at the time of purchasing it. This is because people with pre-existing diseases are more likely to make claim(s) thereby increasing the liability for the insurance company.
• Body Mass Index: If you have a higher Body Mass Index than normal, then you will be more prone to health issues and hence, will be required to pay higher health insurance premiums for SBI Health Insurance plans.

SBI Health Insurance offers various health insurance plans that fulfill the varied requirements of individuals and families. Listed below are the 5 top health insurance plans offered by SBI Health Insurance:

1. SBI Arogya Plus Policy: SBI Arogya Plus Policy is an indemnity based health insurance policy that offers cover against medical expenses to individuals and families. You can be covered under this policy if you are aged between 3 months and 65 years, for several coverage features including domiciliary hospitalisation expenses, in-patient hospitalisation expenses, pre-hospitalisation and post-hospitalisation expenses, daycare expenses, ambulance expenses, and alternative treatments. Sum insured options available under the policy range between Rs. 1 lakh and Rs. 3 lakh. To be covered under this policy, no medical test is required if you are aged up to 55 years.

2. SBI Arogya Premier Policy: SBI Arogya Premier Policy covers individuals and families against medical expenses. Available for 1 year, 2 years, and 3 years, the policy covers you against domiciliary hospitalisation expenses, pre-hospitalisation and post-hospitalisation expenses, daycare expenses, in-patient hospitalisation expenses, alternative treatment, and ambulance expenses. The policy comes without any sub-limit and offers you a cumulative bonus of 10% of the sum insured for every claim-free year for up to 50%. People aged between 3 months and 65 years can be covered under this policy for sum insured options of Rs. 1 lakh, Rs. 2 lakh, or Rs. 3 lakh. You can also include your spouse, dependent children, parents, and parents in law under this policy.

3. SBI Arogya Top-Up Policy: SBI Arogya Top-Up Policy is a top-up policy that offers you additional coverage when the medical cost exceeds the sum insured of your existing health insurance policy. The policy is available with sum insured options ranging between Rs. 1 lakh to Rs. 50 lakh with a deductible between Rs. 1 lakh and Rs. 10 lakh. It covers you against several medical expenses including daycare expenses, in-patient expenses, pre-hospitalisation and post-hospitalisation expenses. You can buy this policy for a period of 1 year, 2 years, or 3 years and pay the premium accordingly.

4. SBI Critical Illness Insurance Policy: SBI Critical Illness Insurance Policy covers you against 13 critical illnesses including aorta graft surgery, open chest CABG, stroke, coma, total blindness, and open heart replacements. The policy is available in two-term options viz., 1 year, and 3 years. You can purchase this policy for sum insured options ranging between Rs. 2 lakh and Rs. 50 lakh as per your requirement. The maximum entry age for this policy is 65 years.

5. SBI Hospital Daily Cash Policy: SBI Hospital Daily Cash Policy offers you a fixed benefit for every day during hospitalisation irrespective of the actual medical cost. Thus, it protects you against expenses that are not covered under your health insurance policy such as traveling, food, etc. The policy offers you two coverage options viz., 30 days coverage, and 60 days coverage. You can buy this policy if you are aged between 18 years and 65 years and can also include dependent children aged above 3 months.

COVID-19 Coverage Under SBI General Insurance

SBI General Insurance Company offers several health insurance plans, almost all of which offer cover for hospitalisation expenses arising due to a positive diagnosis of COVID-19. Some of these plans are designed especially to cover these expenses, such as Corona Kavach Policy and Corona Rakshak Policy. These are explained below:

1. Corona Kavach Policy: Corona Kavach Policy is short term health insurance policy that can be purchased by paying a single premium. You can buy it for 3.5 months, 6.5 months, or 9.5 months, as per your requirements. You can buy this policy if you are aged between 18 years and 65 years, for sum insured options ranging between Rs. 50,000 and Rs. 5 Lakh. It is an indemnity based health insurance policy that covers you for hospitalisation expenses arising due to a positive diagnosis of COVID-19. Other advantages of buying the policy include coverage for AYUSH treatments, road ambulance expenses, home care treatment, pre-hospitalisation and post-hospitalisation expenses, in-patient hospitalisation expenses, etc. It is an affordable policy that you can buy and avail tax benefits on the premium paid under Section 80D of the Income Tax Act, 1961.
2. Corona Rakshak Policy: Another health insurance policy offered by SBI General Insurance is Corona Rakshak Policy, which is a benefit based health insurance policy that provides you compensation in case of a positive diagnosis of COVID-19. It comes for 3.5 months, 6.5 months, or 9.5 months. The policy comes at an economic premium and provides you with a lump sum amount in case of a positive diagnosis. Also, you can avail of tax benefits on the premium paid for the policy, under Section 80D of the Income Tax Act, 1961.

There are many advantages that you can avail of if covered under a suitable health insurance policy offered by SBI General Insurance. The insurance company is a preferred choice for many due to some of these reasons which are explained below:

• More Than 6,000 Network Hospitals: SBI Health Insurance has a strong network of more than 6,000 hospitals where you can avail cashless treatment for the illness, sickness, and diseases covered under your health insurance policy. The process of cashless hospitalisation makes it easier for you to handle the situation in a planned or emergency hospitalisation.
• iAAA Rating for “Highest Claim Paying Ability”: ICRA has reaffirmed its iAAA rating to SBI General Insurance indicating the highest claim paying ability. This makes the insurer more worthy.
• Numerous Awards And Recognitions: SBI General Insurance has won several awards and recognitions, of which Best E-Magazine Award, ET Best BSFI Brands Award 2018, ISO 27001:2013 certification, and Bancassurance Leader Award are a few to name.
• Quick Assistance: SBI General Insurance offers a quick assistance for various insurance related queries that keeps the customers at ease. It has a tab for ‘Quick Assistance’ on the website where the customers can download policy, check claim status, check policy details, and locate the network hospitals.
• Fast And Transparent Claim Settlement Process: SBI General Insurance offers a quick and transparent claim settlement process. The company claims to have handled claims worth more than Rs. 110 billion until now.

A network hospital is a hospital that a health insurance company has tie-ups with and where the insured can avail cashless treatment as per the terms and conditions of his/her health insurance policy. At network hospitals, the process of getting treated becomes smoother. All the other hospitals that the insurer does not have a tie-up with, are considered non-network hospitals. SBI Health Insurance has a tie-up with more than 6,000 network hospitals where you, as an insured can avail cashless treatment.

Premiums paid for SBI Health Insurance plans are subject to tax deductions under Section 80D of the Income Tax Act, 1961. You can avail tax benefits every year for the premium paid under SBI Health Insurance plans. As per the rules and regulations set by the government, senior citizens can avail of greater tax benefits as compared to the younger generation. To understand the tax deductions clearly, refer to the table below:

Claim Settlement Ratio or CSR is the total number of claims settled by an insurer against the total number of claims received in a financial year. To see the Claim Settlement Ratio of SBI Health Insurance for the financial years 2018 and 2019, refer to the table below:

(Source: IBAI’s General Insurance Claim Insights Handbook For Policyholders - 4th & 5th Edition)

SBI Health Insurance Claim Process

Under your SBI Health Insurance plans, you can make claims in two ways. These are cashless and reimbursement. Both the processes keep you covered in the case of planned or emergency hospitalisation.

How To Make A SBI Health Insurance Cashless Claim?

You can make cashless claim under your SBI Health Insurance plans by following the steps given below:

Step 1: Get Hospitalised
Get hospitalised at a network hospital of your choice, show your health card at the hospital desk and inform the insurer. You can inform the insurer by calling them on their toll-free number 1800221111. You can also SMS ‘CLAIM’ and send it on 561612 or write an email to customer.care@sbigeneral.in mentioning your details to get your claim number.

Step 2: Submit a Cashless Claim Request Form
Submit the duly filled cashless claim form to SBI Health Insurance.

Step 3: Document Verification
Your documents will be verified by the insurer.

Step 4: Claim Settlement
The insurer will settle the medical bills at the hospital if your claim is in accordance with the terms and conditions of your health insurance policy.

How To Make A SBI Health Reimbursement Claim?

You can make reimbursement claim under your SBI Health Insurance plans by following the steps given below:

Step 1: Get Hospitalised
Get hospitalised at a non-network hospital as per your convenience. Avail the treatment required and inform the insurer.

Step 2: Settle Bills at the Hospital
Settle the bills related to the treatment availed at the hospital.

Step 3: Collect Relevant Documents from the Hospital
Collect all the documents related to your treatment at the hospital for the claim processing.

Documents Required for Reimbursement Claim Settlement

• You are required to submit the following documents for reimbursement claim settlement under your SBI Health Insurance policy:
• Original medical bills, discharge certificate from the hospital
• Duly filled claim form
• Prescriptions
• Advanced and final receipts
• Original bills and receipts to make claim for ambulance expenses
• Medical history of summary of the discharged individual

Step 4: Claim Settlement
The insurer will pay you for the expenses incurred on the treatment availed as per the terms and conditions of your health insurance policy.

There are several benefits of being covered under a health insurance policy offered by SBI General Insurance, which makes the insurance company a preferred choice for many. Read these benefits below:

• Easy Portability Option: If you are not satisfied with your current insurer or health insurance plan, then at the time of renewal, you can switch to any similar SBI Health Insurance plan. The insurer allows you to continue with SBI Health Insurance plan without losing your policy benefits like waiting period benefit, etc.
• Wide Range of Sum Insured Options: SBI Health Insurance plans are available with a wide sum insured range. It starts from as low as Rs. 1 lakh and goes up till Rs. 50 lakh thereby fulfilling varied requirements of different sections of the society.
• Lifetime Renewability: SBI Health Insurance plans offer you lifetime renewability benefits. This means you can continue to avail benefits under your health insurance plan for a lifetime provided you pay the required premium before the expiration of your policy.
• Tax Benefits: The premium paid for SBI General Health insurance plans is eligible for tax benefits under Section 80D of the Income Tax Act, 1961. However, kindly note that you will be able to avail of tax benefits only if the premium is paid in any mode other than cash. At InsuranceDekho, you can pay the required premium via different modes offered such as Debit card, Credit card, or e-wallet.

SBI Health Insurance plans offer you a wide coverage. Some common coverage features offered under the plans are as follows:

• Daycare Procedures: Daycare procedures are those medical treatments which require less than 24 hours of hospitalisation. These include radiation, dialysis, chemotherapy, tonsillectomy, and lithotripsy. SBI Health Insurance plans offer you protection against daycare procedures.
• Domiciliary Hospitalisation Expenses: Domiciliary hospitalisation is when the patient avails treatment at home due to a lack of accommodation at the hospital. SBI Health Insurance plans offer you cover for expenses related to domiciliary hospitalisation if availed for at least 3 days.
• Pre-Hospitalisation and Post-Hospitalisation Expenses: Pre-hospitalisation and post-hospitalisation expenses are those which are incurred before and after a treatment that requires hospitalisation. These expenses include doctor’s consultation fee, test reports such as x-ray, CT scans, and medicines. SBI Health Insurance plans offer you protection from such expenses.
• Road Ambulance Cover: SBI Health Insurance plans cover you against expenses incurred on the transportation of the insured to the hospital in case of an emergency. The road ambulance has all the facilities necessary during transportation.
• In-Patient Hospitalisation Expenses: In-patient hospitalisation expenses are those which are incurred during hospitalisation for at least 24 hours. These include expenses related to room, blood, oxygen, anesthesia, doctor’s fee, ICU/ICCU, operation theatre, etc. SBI Health Insurance plans protect you for in-patient hospitalisation expenses.

What All Is Not Covered Under SBI Health Insurance Plans?

SBI Health Insurance plans do not cover you against the following expenses:

• Experimental or Unproven Treatments: SBI Health Insurance plans do not cover you for medical treatments that are experimental in nature or are unproven.
• Injuries Related to Adventure Sports: SBI Health Insurance plans do not cover you against any injury arising due to participation in adventure sports like paragliding, etc.
• Treatment Taken Outside India: SBI Health Insurance plans do not cover you for treatments taken outside the geographical boundaries of India.
• Pre-Existing Diseases up to Waiting Period: Pre-existing diseases are those diseases or illnesses which the insured was already affected by at the time of purchasing a health insurance policy. SBI Health Insurance plans do not cover you against pre-existing diseases until the waiting period is completed.
• Injuries Resulting Due to Self-Harm: SBI Health Insurance plans do not offer cover for injuries arising due to any activity with the intention of self-harm. For instance, an attempt of suicide remains an exclusion under SBI Health Insurance plans.

Note that inclusions and exclusions vary with different health insurance plans offered by SBI Health Insurance.

Is the SBI General Insurance Policy Valid Across the Country?

Yes. Health insurance plans offered by SBI General Insurance provide you coverage within the geographical boundaries of India. You can avail of cashless treatment at any of the listed network hospitals across India in case of a health emergency. For this, you will not be required to pay anything at the hospital and can avail of the coverage benefits for up to the sum insured limit. You can also avail of treatment at a non-network hospital in India is covered under a valid SBI General Health insurance policy. For this, you will be required to pay for the treatment availed, at the non-network hospital first, and then you can claim reimbursement for the same. You can check for the network or non-network hospitals of SBI General Insurance at InsuranceDekho. It is also recommended to check the list to be able to decide in advance which hospital will visit in case of a medical emergency so that not much time is wasted in case of an emergency.

Will I be Covered Outside the Country Under SBI General Insurance?

No. Most health insurance plans offered by SBI General Insurance cover you for treatments availed within the geographical boundaries of India. While some health insurance plans come with global health insurance cover under which you can avail yourself of the required treatment even outside the geographical boundaries of India.

At InsuranceDekho, it is very easy to buy SBI Health Insurance plans online. You can choose to buy it in one of the two modes offered viz., Online and Offline.

Buy SBI Health Insurance Plan Online At InsuranceDekho

Follow a few easy steps given below to buy SBI Health Insurance plans online:

Step 1: Visit insurancedekho.com and click on the ‘health’ tab.
Step 2: Select your Gender. Enter your personal details such as Name and Mobile Number. You will receive an OTP on the entered mobile number. Please enter that.
Step 3: Answer ‘When do you want to buy the policy’ by selecting the most relevant answer from the drop-down menu. Click on the ‘View Quotes’ button.
Step 4: Select your family members who you wish to add to your health insurance policy. Click on the ‘Continue’ button.
Step 5: Select the age of your family members.
Step 6: Enter your Email ID and City. Click on the ‘Submit and View Quotes’ button. You will see the most suitable health insurance quotes on your screen. Shortlist the one you wish to buy.
Step 7: Select the policy term for the chosen health insurance policy. Fill in the required details. Pay health insurance premium online.

Buy SBI Health Insurance Plan Offline At InsuranceDekho

You can purchase SBI Health Insurance plans in the offline mode for which you will be required to share your health insurance requirements with our knowledgeable customer care executives on the toll-free number 7551-196-989. We are available all 7 days between 9:30 AM to 6:30 PM. You may even connect to us at customersupport@insurancedekho.com if you need any further assistance.

Health insurance renewal is an important process that requires you to pay the premium after your policy term gets over. It allows you to continue availing benefits under your health insurance policy. You can add additional benefits under your policy at the time of renewal. SBI Health Insurance offers an online renewal facility. To renew your SBI Health Insurance policy, follow the steps given below:

Step 1: Visit the official website of SBI Health Insurance and click on the ‘Renew Policy’ tab.
Step 2: In the section for health insurance, select the health insurance policy from the drop-down menu you want to renew.
Step 3: Enter your Policy Number and click on ‘Get Quote’.
Step 4: Select the most suitable quote from the ones displayed on your screen.
Step 5: Pay the renewal premium online in any mode offered by the insurer.